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Subsequent Events | 9 Months Ended
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Sep. 30, 2025
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events Chief Executive Officer Transition As part of the Company’s long-term leadership development and succession processes, the Company announced that William J. Lynn III notified the Company on October 27, 2025 that he will retire from his role as Chief Executive Officer, Non-Proxy Holder Director and as Chairman of the Board of Directors (the “Board”) effective as of midnight on December 31, 2025. Mr. Lynn will continue to serve as an employee of the Company until April 1, 2026. Concurrently, the Board has approved the appointment of Mr. John Baylouny to succeed Mr. Lynn as President and Chief Executive Officer of the Company, effective January 1, 2026. Mr. Baylouny will also join the Company’s Board as a Non-Proxy Holder Director, effective as of the same date. On October 27, 2025, the Company entered into an employment agreement with John Baylouny, pursuant to which Mr. Baylouny will serve as the Company’s President, Chief Executive Officer and Non-Proxy Holder Director, effective as of January 1, 2026. On the same date, the Company entered into a Transition Separation Plan with Mr. Lynn to set out the terms of his retirement. Appointment of Board Chair On October 27, 2025, the Board appointed Ms. Frances F. Townsend as Chair of the Board, effective January 1, 2026.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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